Independent Franchise Partners LLP Has $94.20 Million Position in Zillow Group, Inc. (NASDAQ:ZG)

Independent Franchise Partners LLP cut its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,091,542 shares of the technology company’s stock after selling 100,131 shares during the period. Zillow Group comprises approximately 0.9% of Independent Franchise Partners LLP’s portfolio, making the stock its 23rd largest position. Independent Franchise Partners LLP owned 0.89% of Zillow Group worth $94,203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ZG. Quadrant Capital Group LLC grew its position in shares of Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after buying an additional 237 shares during the last quarter. Norges Bank acquired a new position in shares of Zillow Group in the fourth quarter worth approximately $102,096,000. UBS Group AG boosted its holdings in Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after acquiring an additional 177,265 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Zillow Group by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock valued at $1,390,000 after purchasing an additional 230 shares during the period. Finally, Shannon River Fund Management LLC acquired a new stake in Zillow Group during the 4th quarter valued at approximately $4,384,000. 20.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ZG shares. DA Davidson reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Zillow Group in a research note on Tuesday, June 18th. Susquehanna upped their price target on shares of Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. UBS Group lifted their price objective on Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup boosted their price objective on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $59.82.

Insider Activity

In related news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at $379,983.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares in the company, valued at $379,983.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at $29,583.06. The disclosure for this sale can be found here. Insiders have sold 221,999 shares of company stock worth $11,780,363 over the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group Stock Performance

ZG opened at $65.05 on Friday. Zillow Group, Inc. has a 1-year low of $33.23 and a 1-year high of $66.75. The company has a market cap of $15.36 billion, a price-to-earnings ratio of -94.28 and a beta of 2.00. The company’s fifty day moving average price is $51.82 and its two-hundred day moving average price is $47.30. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Zillow Group Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.